E-Squared Investments Proprietary and Suzie Nkambule entered into an agreement to acquire Aveng Water Proprietary Limited and The Aveng Namibia Water business from Aveng Limited for ZAR 95 million.

E-Squared Investments Proprietary and Suzie Nkambule entered into an agreement to acquire Aveng Water Proprietary Limited and The Aveng Namibia Water business from Aveng Limited (JSE:AEG) for ZAR 95 million on January 18, 2019. The consideration will be settled in cash on a debt-free basis. The transaction is subjected to satisfactory completion of due diligence, approval by the Competition Authorities in all applicable jurisdictions, approval by financiers who are party to the common terms agreement concluded with Aveng Limited on 25 February 2018 and most recently amended on 13 September 2018, regulatory approvals in respect of the final agreements and any third-party consents that may be required for the implementation of the transaction to the satisfaction of the Aveng. the transaction is expected to close in the first quarter of 2019. Baker & McKenzie LLP acted as legal advisor to Aveng Limited.